Some good news for those of you who accidentally updated their iPhone to 3.1.3 and are now stuck without being able to unlock or downgrade.

Sherif Ashim announced today on Twitter that he successfully crashed the 05.12.01 baseband, which really is step 1 in finding an exploit to unlock it. Later on, MuscleNerd confirmed that it was a totally legit find.

What does this mean? Well, this means that at the time you’re reading this, the Dev Team is probably working on turning this exploit into an iPhone 3.1.3 unlock.

iPhone OS 4.0 is still months away so I wouldn’t be surprised if the Dev Team released this 3.1.3 unlock instead of saving it for 4.0.

Early updaters rejoice! An iPhone unlock for baseband 05.12.01 is on its way!